The rest of the U.S. is footing the flood insurance bill for these two states

A neighborhood is inundated by floodwaters from Tropical Storm Harvey. Texas receives 96 cents in claims payments for every dollar it spends on flood insurance, according to a new analysis. ( Brett Coomer / Houston Chronicle ) less

A neighborhood is inundated by floodwaters from Tropical Storm Harvey. Texas receives 96 cents in claims payments for every dollar it spends on flood insurance, according to a new analysis. ( Brett Coomer / ... more

Photo: Brett Coomer, Staff / Houston Chronicle

Photo: Brett Coomer, Staff / Houston Chronicle

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A neighborhood is inundated by floodwaters from Tropical Storm Harvey. Texas receives 96 cents in claims payments for every dollar it spends on flood insurance, according to a new analysis. ( Brett Coomer / Houston Chronicle ) less

A neighborhood is inundated by floodwaters from Tropical Storm Harvey. Texas receives 96 cents in claims payments for every dollar it spends on flood insurance, according to a new analysis. ( Brett Coomer / ... more

Photo: Brett Coomer, Staff / Houston Chronicle

The rest of the U.S. is footing the flood insurance bill for these two states

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Property owners who have received flood claim payments in Mississippi and Louisiana have the rest of the nation to thank, according to a new analysis of the National Flood Insurance Program.

They have received $1.79 and $1.42, respectively, for each dollar they paid in premiums, according to the analysis by the consumer research group ValuePenguin.

Texas has the third-highest ratio of claims to premiums, receiving 96 cents on every dollar it spends.

Texas and the other 47 states each pay more in premiums than they have received in claims.

The ratios aren't an exact reflection of reality because they're based on current policies in force and average annual claims payments since 1978, but they're a reasonable approximation.

The study highlights how a program meant to be self-funded has fallen into insolvency because of a few major events.

It has been operating at a deficit since Hurricane Katrina in 2005, and is the target of reforms by congress, which has a July 31 deadline to reauthorize the program.

The results were heavily affected by Superstorm Sandy, Hurricane Harvey and the 2016 severe storms and flooding in Louisiana, which are the top three most expensive events in the history of the flood insurance program, costing it nearly $20 billion.